secwatch.observer — SEC 8-K summary
======================================

Issuer:     CUMULUS MEDIA INC (CMLS)
CIK:        0001058623
Form:       8-K
Filed at:   2023-07-28T23:59:59+00:00
Accession:  0001058623-23-000076
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Cumulus Media Q2 revenue down 11% to $210.1M; net loss of $1.1M vs profit a year ago
--------------------------------------------------------------------------------

- Net revenue $210.1M, down 11.2% YoY; net loss $1.1M vs net income $8.7M in Q2 2022.
- Adjusted EBITDA fell 32.6% to $30.7M; diluted EPS -$0.06 vs +$0.42.
- Digital revenue $37.5M (18% of total); digital marketing services grew 21% YoY.
- Retired $32.2M face value of 6.75% notes at 73.9% of par; repurchased ~10% of shares via $5.7M tender offer.
- Total debt $680.9M, lowest in over a decade; sold WDRQ-FM for $10M, closing expected Q3.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1058623/000105862323000076/0001058623-23-000076-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1058623/000105862323000076/cmls-20230728.htm
  HTML page:      https://secwatch.observer/filing/0001058623-23-000076

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer